SongYang(SH:603863)2025-10-30 09:15Financial Performance - The company's operating revenue for the third quarter was ¥91,364,059.09, a decrease of 46.42% compared to the same period last year[4]. - The total profit for the quarter was -¥41,089,370.70, with a net profit attributable to shareholders of -¥41,043,386.48[4]. - Year-to-date revenue reached ¥313,988,524.90, down 40.20% year-on-year[4]. - The basic and diluted earnings per share for the quarter were both -¥0.20[5]. - The total operating profit for the first three quarters of 2025 was reported at -¥86,892,576.69, an improvement from -¥109,492,658.48 in the previous year, reflecting a reduction in losses of about 20.6%[20]. - The net profit for the first three quarters of 2025 was -¥87,038,161.29, compared to -¥105,327,629.78 in the same period of 2024, showing a decrease in net losses by approximately 17.3%[20]. - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.42, an improvement from -¥0.51 in the same period of 2024[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,142,690,683.28, a decrease of 12.26% from the previous year[5]. - Shareholders' equity attributable to the company was ¥364,123,662.99, down 21.77% compared to the end of the previous year[5]. - Total assets decreased to RMB 1,142,690,683.28 as of September 30, 2025, from RMB 1,302,416,813.07 at the end of 2024[17]. - Total liabilities as of September 30, 2025, were RMB 775,806,028.74, compared to RMB 833,929,491.43 at the end of 2024[16]. - The company's total equity decreased to RMB 366,884,654.54 as of September 30, 2025, from RMB 468,487,321.64 at the end of 2024[17]. - Short-term borrowings were RMB 265,722,631.93 as of September 30, 2025, slightly up from RMB 265,624,841.60 at the end of 2024[16]. Cash Flow - The company reported a cash flow from operating activities of -¥28,248,025.94 year-to-date[5]. - Cash flow from operating activities for the first three quarters of 2025 was -¥28,248,025.94, slightly better than -¥30,780,646.65 in the same period of 2024[23]. - The company generated cash inflows from operating activities totaling ¥292,985,697.81 in 2025, down from ¥578,098,153.90 in 2024, representing a decline of about 49.3%[23]. - Cash outflows from operating activities were ¥321,233,723.75 in 2025, compared to ¥608,878,800.55 in 2024, indicating a decrease of approximately 47.3%[23]. - The net cash flow from investing activities for the first three quarters of 2025 was ¥37,995,697.77, down from ¥76,451,414.84 in 2024, reflecting a decline of about 50.3%[24]. - The company reported a net cash flow from financing activities of -¥48,914,547.01 in 2025, compared to -¥30,139,490.88 in 2024, indicating an increase in cash outflow[25]. - The ending cash and cash equivalents balance for the company as of the end of September 2025 was ¥22,771,903.50, down from ¥47,234,950.11 at the end of September 2024[25]. Operational Challenges - The decline in revenue was primarily due to the shutdown of the coated whiteboard paper production line and insufficient operation of the high-strength corrugated paper machine, leading to decreased sales volume[9]. - The company's management indicated a focus on cost reduction and operational efficiency improvements moving forward[19]. - The company's R&D expenses for the first three quarters of 2025 amounted to ¥7,170,291.10, compared to ¥13,732,662.05 in the same period of 2024, indicating a decrease of approximately 47.8%[20]. - Total operating costs for the first three quarters of 2025 were RMB 408,078,449.70, down 36.8% from RMB 645,846,073.89 in the first three quarters of 2024[19]. - Operating costs in 2025 included RMB 348,362,239.08 in operating expenses, a reduction from RMB 558,756,804.25 in 2024[19]. - The company received government subsidies amounting to ¥575,386.35 during the quarter[7]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,870[10].